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SETsquared has been shortlisted for a national award that celebrates the most innovative and original initiatives and teams from higher education institutions in the UK.

The Times Higher Education Leadership & Management Awards (THELMAs) shines a spotlight on teams whose awareness, application and vision create an environment in which staff and students can excel. SETsquared has been shortlisted in the Knowledge Exchange/Transfer Initiative of the Year category, for its Innovation and Commercialisation of University Research (ICURe) programme.

SETsquared, the global number one business incubator and partnership between universities of Bath, Bristol, Exeter, Southampton and Surrey, is piloting the ICURe programme to offer university researchers with commercially promising ideas the opportunity to ‘get out of the lab’ and validate their ideas in the marketplace.

Funded by HEFCE and Innovate UK, the £3.2m provides university researchers with training, mentoring and funds, as well as important business contacts, to get their ideas, technologies and products off the ground.

More than 232 participants have benefitted from the programme. The programme has led to 21 new companies being created and has secured £12.8m in funding.

One company to find success through the ICURe programme is Engineering Tomography Laboratory (ETL) in Bath, which is developing a non-invasive and non-intrusive inspection technology using a novel contactless magnetic measurement to monitor pipeline corrosions and damages. The company is led by Dr Manuch Soleimani and junior entrepreneur Maomao Zhang, who said: “The ICURe programme isn’t just about training, it’s also about the real connection you make with experienced entrepreneurs who provide mentoring.”

Simon Bond, innovation director at SETsquared, said: “We’re thrilled to have been nominated for a Times Higher Education Leadership & Management Award. With such fantastic results coming from the ICURe programme, this shortlisting is a testament to the hard work and enthusiasm of everyone involved.”

Don Spalinger, SETsquared board member and director of research and innovation services at the University of Southampton, said: “ICURe plays an important role in ensuring a product gets to market quickly, and can be the difference between creating a successful business and one that falls behind, so I am thrilled to see it recognised at these awards. It is a fantastic boost for the hardworking team that have secured funding and set up business contacts for over 232 researchers.”

SETsquared will find out if it has been successful in its category at a ceremony at the Grosvenor House Hotel in London on 23 June.